Gas prices have been a hot topic in the past few years, and the upcoming election. Economics is complex, how multiple factors of government money supply and inflation can influence other economic shifts. The promise of a low gas price may not be a feasible promise. The simple answer of why is because low gas prices mean an unhealthy economy, “…recession depress economic demand, and when demand is depressed, fewer people drive — which in turns leads the price of gas to fall like any other commodity would when demand falls.” However, economists predict that by summer per gallon will be over $4. Is this a sign of an economic upturn?
It’s Presidents’ Day as I write this, so if you were lucky enough to have the day off, give some thanks to Washington, Lincoln and all the other chief executives — even stinkers like James Buchanan and Andrew Johnson. Of course in modern American politics, every day is really Presidents’ Day — so central is the occupant of the White House to the perceived state of the nation. Good news or bad news, foreign or domestic, the President gets the credit — and he gets the blame, whether he actually deserves either.
That goes for one of the most importantly economic indicators — psychologically at least — that’s out there: gas prices. A gallon of gas now costs an average of $3.53, already up 25¢ from the beginning of the year, and the highest price it’s even been at this time of the year. (Gas prices are usually lower…
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